Mega project The Spirit of Saigon : Luxury apartments towards Ben Thanh!

Mega project The Spirit of Saigon : Luxury apartments towards Ben Thanh!

MASTERISE Homes appears as the developer of the prestigious “The Spirit of Saigon” project in Ho Chi Minh City. Loud vietnam.vn is in a so-called "diamond position", directly opposite the popular Ben-Thanh market. The sophisticated project planning provides for four facades along the streets Pham NGU Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh. Another striking aspect is the apartment prices that are expected to achieve almost 1 billion and per square meter.

originally launched by the Saigon Glory Company Limited, a subsidiary of Bitexco Group, the total investment capital amounts to up to 500 million. The construction project provides for the construction of two towers with 46 and 55 floors, which will offer a total of 214 licensed apartments and about 250 6-star hotel room. But the way to implement was not smooth: Between 2012 and 2013, the project was suspended due to financial difficulties and only resumed in 2020, but remained inactive.

financial challenges and broadcasts

To secure the necessary financial resources, Saigon Glory spent ten bonds with a total value of 10,000 billion and in 2020. Capital was collected by bonds and bank loans to maintain the operation. The Bitexco Group also pledged capital contributions and the tower of the project to Techcombank. Despite the challenges, Ms. Truong My Lan played a crucial role in the management and transfer of the project, which was broadcast in 2018 by the Bitexco Group for around 22,000 billion and to Viva Land Company. The project temporarily received the name "Pearl" before it finally went back into the possession of the Bitexco Group.

A remarkable plan stipulates that Bitexco will transfer 100 % of its capital contribution to the Hanoi Phuong Dong Real Estate Company Limited by 2024. This strategic step is intended to help clarify the company's financial obligations and to establish a new vision for the project.

Masterise Homes and his vision

MASTERISE HOMES, a member of the Masterise Group, is considered a pioneer in development, operation and management of luxury properties in Vietnam and beyond. The company specializes in the development of Branded Residences in particular and has the largest portfolio of this kind in Southeast Asia. With a strategic partnership with Marriott International, one of the world's leading hotel brands, the portfolio of iconic brands such as Marriott, JW Marriott and Ritz-Carlton includes

MASTERISE Homes undertakes to develop exquisite real estate projects that correspond to the highest standards and guarantee an optimal customer experience. The projects realized include the Masteri West Heights in Hanoi and the Grand Marina Saigon in Ho-Chi-Minh-Stadt. The company is also currently implementing further high-end projects, which also includes the Global City in Thu Duc City.